St. Regis, 800 Spadina Rd: 23 Forest Hill Suites and a Big Fee

St. Regis at 800 Spadina Road is one of the smallest condominiums in Forest Hill: 23 suites over seven storeys, a rooftop terrace and a fee that pays heat, hydro, cooling and water. It also trades at one of the lowest prices per square foot in the neighbourhood, and the reason is that same fee. Whether this building is a bargain or a trap depends on how long you plan to stay. I’m Jatin Dua, RE/MAX Quantum Realty.

A 23-suite building, and what that means

With 23 suites over seven floors, St. Regis has only three or four homes per floor. That is the main attraction. You know your neighbours, the elevator is rarely busy, and the building feels closer to a private house divided into flats than to a tower.

Condos.ca lists Shane Baghai as the builder, a name buyers in this part of the city know from high-end houses, and listings describe the building as an intimate boutique property. Inside, suites I saw listed had hardwood floors, granite counters, custom built-ins, walk-in closets and Juliet balconies rather than full balconies.

The flip side of 23 suites is that every cost is shared by very few owners. A roof replacement, a garage repair or a new boiler is split 23 ways, not 200. That is the single most important thing to understand about this building, and it shows up directly in the fee.

The fee: nearly two dollars a foot, nearly everything included

The fee covers common elements, heat, hydro, air conditioning, water and building insurance, and one recent listing also showed parking as included. Very few buildings in midtown bundle hydro, and almost none of the new ones do. You will have very few monthly bills of your own beyond phone, internet and property tax.

Even so, it is a big number. The two suites listed when I checked averaged about $1.98 per square foot, which for a suite of 850 to 950 square feet means a fee well over $1,500 a month. A newer building with separate utilities might charge 80 cents to a dollar, and even after you add back hydro, heat and cooling, St. Regis is still well above it.

A fee like this is not necessarily a sign of trouble. Small buildings have high fixed costs per suite: staff, insurance, elevator contracts and the reserve fund all cost roughly the same whether there are 23 owners or 60. But it does mean you must read the budget and the reserve fund study, not just the headline number.

Bigger suites than the address suggests

Suites run from about 730 to 2,230 square feet, so the largest plans here are the size of a house. The suites I saw listed were two-bedrooms of around 870 square feet, with separate living and dining areas, a primary bedroom with a walk-in closet and ensuite, and a second bedroom that works as a guest room or office.

Listings mention underground parking with visitor spaces, and owned lockers. Confirm what comes with the suite you are buying, and ask whether the locker is deeded, because in a building this small there are not many spares to buy later.

The rooftop terrace with a barbecue is the shared space people talk about, and there are fitness facilities. Pets are listed among the amenities on condos.ca, but check the declaration for size and number limits before you rely on that.

Spadina Road, at the top of Forest Hill

800 Spadina Road is at the north end of Forest Hill, just below Eglinton Avenue West. Forest Hill Village, with its shops, cafés and restaurants, is a walk south down Spadina, and the Beltline Trail and nearby parks are close. Listings point to Zito’s Marketplace for groceries a few minutes away and to the Allen Expressway a short drive west.

The data panel on this page has the transit, school and walkability detail. In daily life, this is a quiet residential street of houses and low-rise apartments, with the busier Eglinton corridor at the top of the road.

Eglinton West has been changing with the Crosstown line and the taller buildings it has brought. That is mostly a positive for value, but it means more construction and traffic at the north end of Spadina over the next few years.

Pricing: the fee is in the price

Condos.ca puts the average here at about $597 per square foot, which is low for Forest Hill. The two suites listed when I checked were two-bedrooms in the 800 to 999 square foot range asking from $535,000 to $612,000. For an address on Spadina Road, that looks like a bargain on paper.

It is not a mystery. Buyers and lenders both look at the monthly cost, and a fee that is $800 to $1,000 a month above a comparable building reduces what people can borrow and what they will pay. At today’s mortgage rates, that extra monthly cost is roughly what it costs to carry another $140,000 to $180,000 of mortgage. In effect, part of the purchase price has moved into the fee.

So compare total monthly cost, not price. If you are paying cash or have a large down payment, the low price and the all-in fee can work in your favour. If you need maximum mortgage approval, the fee will count against you. The sold and leased medians in the data panel and my building sold report are better guides to value than two listings.

Building specifications

Amenities at St. Regis

There is no pool, party floor or concierge desk to fund, which is normal for a building this size. What you get is a rooftop terrace, a small fitness space and secure parking, and the real amenity is the quiet that comes with only 23 households.

Jatin’s honest take on St. Regis

St. Regis — frequently asked questions

Looking at Yonge & Eglinton, Davisville and North Toronto more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.